The index has dropped a total of 4.3 percent since the third quarter of 2018. And its year-over-year gain now measures 1.8 percent, representing the smallest year-over-year gain for the index since the second quarter of 2012.
As we first noted in the third quarter of last year, Las Vegas is still leading the nation in terms of home price gains, up 10.5 percent year-over-year versus a national average of 4.3 percent, with Phoenix in second place (up 7.5 percent) and Minneapolis (up 5.1 percent) having displaced Atlanta (up 4.9 percent).
At 1.8 percent, San Francisco ranked second to last in terms of year-over-year gains, trailed only by San Diego (up 1.3 percent). And the national average was the lowest since 2015.